tv Varney Company FOX Business May 12, 2017 9:00am-12:01pm EDT
sisters all beautiful, great mothers. dagen: doggy moms, too. >> exactly. [laughter] >> yes, exactly. >> that's my final thought. maria: happy mother's day and have a great weekend and see you sunday. dagen mcdonald. kevin kelly, "varney & company," stuart, take it away. stuart: good morning, everyone. we were right, there is something called the retail ice age. we've been covering it. now, it's in deep freeze mode. the big name stores are in deepening trouble. the last two days, disaster for macy's. its sales are falling. same store with nordstrom, same-store sales are down. in a half hour you'll see j.c. penney stock take another big tumble. this is dramatic. not only are household names disappearing from the retail landscape, the shopping malls are emptying, fewer foot traffic, fewer anchor stores and ghost malls are popping up all over. like it or not, we're changing
the way we stop and the way we live as bricks and mortar stores retreat. jn on-line shopping is taking over. amazon, that one company accounts for the retail sales and it's interesting, that news that makes headlines in the establishment media is about hatred and contempt for president trump. the news that affects your everyday life is running all the way to the back burner. stay right there. we're background to tell you about a surge in college grad salaries, a three-decade low for unemployment benefits, a surge in home buying over renting and, yes, those ghost malls. "varney & company," the friday edition, about to begin. ♪
>> he's a showboat, a grandstander. the fbi has been in turmoil. you know that, i know that, everybody knows that. you take a look at the fbi a year ago, it was in virtual turmoil. less than a year ago. it hasn't recovered from that. >> all right, you heard it, that was president trump speaking with nbc about the comey firing, directly contradicting what the white house had said a day earlier. the media, well, they have been relentless about the president's actions on comey. a couple of headlines for you today. washington post, it's an opinion piece called a survival guide to presidential abuse of power. from the new york times, the opinion piece, american fascism in 1944 and today. byron york is with us. i find this media response to the comey story and all other stories, frankly, hysterical. what about you? >> well, i think people are
hyperventilating a little bit. by the way, that american fascism story in the new york times written by henry wallace's grandson, wallace was the next to the last vice-president of franklin roosevelt and ran for president as a progressive in 1948. and says you know the term fascist cannot be fairly applied to donald trump and american fascism is different from european fascism and they put it in the headline. there are other parts to the story than what you are hearing. certainly, president trump was angry about the russian investigation, there's no doubt about it, but it's also true that the trump team and trump himself were thinking about firing comey from the very beginning, meaning right after the election, during the transition. they were tking about it and some people wanted too it right away on january 21st, so this is a more complicated story than you would understand if you just watched a few media
outlets. stuart: it goes over everybody's head and i feel like the media is trying to force us into an intellectual straight jacket which denies the legitimacy of president trump. it's more than that, it's personal. i get the impression, there are many people in the media, establishment media who hate them. they are contemptuous of him and they loathe the man, that's what i'm feeling. >> one thing that you see a lot in times like this is kind of excessive group think in the media and the similarity in the reporting that you've seen in some of the major media outlets has been really, really striking and the ignoring of other things has been striking. for example, yesterday in a meeting of the senate judiciary committee, the chairman, charles grassley, the republican, ranking member dianne feinstein, the democrat, talked about a time at the earlier hearing when james comey appeared and one
democratic senator tried to get comey to acknowledge that president trump is a quote, target of the russian investigation and comey wouldn't say. and grassley came out and said, listen, we were briefed by comey and basically he said trump was not the target of the administration-- of the investigation. and feinstein agreed with that statement and there's not been a whole lot of coverage of that and i'm just saying that that's part of the story in addition to everything else that you're hearing. >> i'd like to hear the full story, frankly, i'd like to hear more about the good news about the economy. byron york, everyone, thank you, sir. >> early on a friday morning. >> despite the turmoil and venom m the media, stocks haven't taken much of a hit or the positive economic signs that we're seeing in the economy. well, they seem to be supporting the overall market. we'll be down ever so slightly, the opening bell this morning, we were going to be down about 50 and now we may be down single digits, maybe nine points, but take a look at
snap. it dropped what, more than 20% yesterday, weak numbers, stiff competition from facebook and not recovering that morning and snap is at 18 and it went public at 17. the latest retailers to report weak sales, oh, dear, this is retail-- fancy graphics, i like that. j.c. penney stock down nearly 7%, nordstrom down nearly, what, 5 1/2% and it was down big time yesterday. joining us now with the resource group, this is the man on the screen now, coined the expression retail ice age. and these sales numbers from the department stores, the bricks and mortar people are bad and i think getting worse. i think this is a retail ice age in deep freeze, what do you say? >> retail ice age, deep freeze and many more casualties filing for bankruptcy, rick --
reta retail. stuart: give us names you think are going out, bankruptcy or liquidation. >> we associate the names in trouble with stock prices trading below $2 a share, that would include bon-ton group, sears holdings, bonds of neiman marcus and and j. crew and rue 21 is gone and bebe stores are going. bond prices below $65, and stocks below $2 a share, look out below, there's still power to prosper and areas to make some money. stuart: do you like j.c. penney, don't you? >> i like the preferreds, you're right and the ktp dividend of 10.4% trading below
par and-- >> and how do i know i'm going to get it. >> it's lunch money for you, it's $18 a share. [laughter] >> you say-- >> 10.4% yield trading below par, and i'm not saying bet the fortune, but 2 to 5% of your portfolio in risk and dillard's a preferred stock, ddt, not related to the pesticide. they don't go up and down much, but a great yield, total by total return. ashley: look at nonstore retail, amazon.com and home improvements stores doing well and reflects the housing market which is picking up. stuart: you coined the expression retail ice age and we stole it and enhanced it and made it the deep freeze. >> as they would say, simon bar sinister says freeze. [laughter] >> now to a different story, some fbi agents not happy with
the way the hillary clinton e-mail case actually turned out. here is fbi director, acting director, andrew mccabe during senate testimony yesterday. roll tape. >> i'm just saying basically before july 5th, before the first testimony that basically director comey got involved in, prior to that, did you see a change in the morale, yes or no, yes a change or more anxious, more concern? >> i think morale has always been good, however, we had-- there were folks within our agency who were frustrated with the outcome of the hillary clinton case and some of those folks were very vocal about that, those concerns. stuart: very interesting. fox news contributor, rachel duffy. >> it sounds like they're looking at an opening of the
hillary clinton. and if donald trump gets somebody to replace comey who is aggressive may open that case. the american people said, fine, you're not going to do anything about it, we'll take care of it at the ballot box, that's what they did, a reaction to hillary clinton and those e-mails. stuart: that was barely reported. the first time i saw that was early this morning when i walked in, establishing what's going in the show today and what's they i saw it for the first time and that sound bite is from mid day yesterday, i think. >> it's what you said before, they're trying to set a narrative and have a deep hatred and shows me they've learned nothing from the election. they said they're going to reevaluate and get back in touch with the american people. all the economic stories at the head of the show, i live in middle america, they're not talking about comey, there are people in construction, and manufacturing, and steel workers and they're going, hey, this looks pretty good. stuart: you're from wisconsin. >> i am. stuart: your home base. >> yes.
stuart: and people there it's going over their heads whether it's comey or watergate or-- that's not a factor. >> no, they're talking about health care, because that affects their lives, but not talking about comey. there's no deep love in middle america for comey. a lot of people don't know who the heck he is. maybe now they do because of the media, but, yeah, i think it shows they're still out of touch and they'll pay a price for that. the media and the left. stuart: all right, thank you very much rachel campos duffy. thanks for joining us. stuart: i'm going to call it a bombshell in the hillary clinton scandal. a woman in bangladesh said she was approached for donations while she was serving. >> and microsoft designed a special watch that could help control the uncontrollable tremors associated with the disease.
we'll tell you how it works. and the best way to win a cyber war against north korea is to think like winston churchill. there's a story for you. state right there. he'll make his case right after this. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.
>> now, you're looking at cyber security stocks, they went down yesterday. not much recovery for any of them today. and then remind you that yesterday, president trump designed an executive order to bolster cyber security to protect the nation's infrastructure from cyber attacks. and i'm staying on that subject. our next guest says president trump can win a cyber war by following winston churchill's footsteps. come in, please. the chair of american defense international. all right, van. i know what you're going to say, you're going to say that we in america should establish like a benchly park, an organization that alan got
through in the world war. >> i want to solve the cyber security problems that we have and to win the cyber war. the fact right now that open source intelligence tells us that north korea has a quantum encryption device should be a wakeup call to america. we're talking speed of computer. a computer capability billions of times faster than our current computing capabilities. america needs that technology. stuart: absolutely, you're telling me that the north koreans, whose people are starving, eating grass, they are ahead of us in quantum computing? >> they have a quantum encryption device, we know that. they recently sent out random number codes. remember how the nazis would change the code every day, what if you could change the code every couple of seconds, that's what we're talking about and today, losing the cyber war is not a optin option just as losi
the cyber code, and the enigma code in world war ii. >> don't we have the microsoft of the world and apple's, symantec and everything, already in place? unfortunately, quantum computing has not been a priority for our national institute of technology. they're not on top of this, the air force is. let's bring in the best mathematicians and physicists that we have, these have been the visionaries, the alan tourings of america of this generation and let's do what churchill did. and before he became prime minister he got personally engaged and that fits with president trump's style. he gave them the resources they needed. losing was not an option and he
visited with them to boost morale. and that's what we need. the british bull dog gave us this to achieve victory. whoever wins the cyber war with dominate in present and future conflicts. losing the cyber war is not an option. stuart: that's fascinating. didn't know anything about this until you came along. good man, thank you. total change of subject, to southeast asia. the bangladeshy prime minister says hillary clinton personally pressured her to help a foundation donor. details. ashley: yeah, apparently she made a call in 2011 to the bangladesh prime minister. and for making the call to insist that a dr. mohammad eunice not be removed as the head of a bank because that bank under dr. eunice had given between 200,000 to $250,000 to
the clinton global initiative. and you take him out of the bank, the donations, you lose the money train. she was told you can't do that you have to be 60 years old and younger and the doctor is now 70 and shouldn't have been there in the first place and she continued to push it have the individual as the head of the bank, which was a microcredit bank in bangladesh, but she was rebuffed. stuart: so did either the bank or the bangladeshi prime minister contribute money to the clinton foundation? >> they did, during, up to that point. they had and they wanted to main train to continue. liz: the corruption scandal. stuart: yes, it was. all right. we cover it all on this program. a sign of economic populism in the housing market. millennials buying homes rather than renting. now, there is a switch. weert' talking about a whole new generation of home owners.
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is-- >> survey says. stuart: survey says 1230. a generation of renters are starting to buy homes and there's a switch. tracy is here with the story. tell us, please. >> well, now, the number of new first-time home owners that's doubled the first three months of the year. some 854,000 new home owners. that's double the 365,000 people that are first-time renters. so there are more options now than ever for these first time home owners. stuart: that's extraordinary, first time home owners 854,000. first time renters, 365,000. that's a total switch. >> people don't want to rent. they're moving out of their parents' homes, these millennials, there are more starter home range prices of homes available for them, you know, builders are-- >> i wonder if it's something to do with this statistic from
korn ferry. the average starting salary for college graduates, 49,785, for the salary and maybe that's why they've got the money. >> absolutely. stuart: there's more homes on the market? >> the builders have been focusing on the luxury market and realizing that millennials are buying, so they're building homes in that starter home range so they're more affordable. stuart: and that's why home depot and lowe's and their stock has been doing nicely. tracy is, your second performance on "varney & company," that was pretty good. better than the first. >> thank you, thank you. stuart: and sounds good. >> appreciate it. stuart: where are we going here on the market when it opens in four minutes' time? we are going to go down ever so slightly and look at that nasdaq, home and technology stocks going to go up again. we will be back.
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listen up, heart disease.) you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. >> all right, we will open this market on a friday morning in about 32 seconds' time. in the backdrop before we open, i've got positive signs on the number one, it's easier to get full-time jobs, so we are told. unemployment claims, the lowest level since 1988.
very strong corporate profits up 13%, the best performance in six years and get this, salaries for this year's college grads are at the best level in decades over 49,000 a year and millennials are buying rather than renting homes. it's the last day of the week, we're running and down, 21 points. okay. 21 down at 20,896, but it's a very modest loss and i see green opening up on the left side of the screen. down 25 as we speak. the retailers, we made a big deal on the program about the retail ice age. it's really going into deep freeze. j.c. penney just opened there, down 6%, it's under $5 a share. nordstrom down late yesterday, down again this morning. and look at snap. this is obviously another retail stocks, but snap down 20% yesterday, that's hardly a recovery. it's still at $18 a share as of
this morning. it's always worth checking the fabulous five as we call them. the very, very big name technology companies. i've got facebook at 150. amazon at 953. microsoft going up-- i'm sorry, down a little bit. all-time high for apple at 155.19. this is where the money is still going. except microsoft which is down 14 cents. fix that. [laughter] >> joining us now ashley webster, liz macdonald, scott shellady and jeff sica. i'm seeing these positive signs. scott shellady, are you with me, the good things going on beneath the political headlines? >> i agree with you 100% and we're seeing a little bit of inflation in there. cpi wasn't as good as i'd like it to have been, but overall, green shoots of activity. the only thing that concerns me
still is that bond market telling me we still have enough to worry about, 10-year 2.34. maybe we need to see more and then the bond market will catch up. right now, yeah, i'm glad to see the green shoots. ashley: it's holding the pieces in place, what the economic data is tell us, what we need to happen is washington d.c. get on with the business of getting that economic agenda in place, tax cuts, health reform and so on. then we're off to the races. stuart: not doing too badly. liz: and the level of job se seekers, the full-time job is coming up and the spending coming up. stuart: is that a positive. liz: a positive. stuart: plus the percentage of people collecting unemployment is the lowest since 1969. ashley: got to be-- >> do you agree with that, jeff sica. >> i agree, but i have to agree with ashley. a lot of the market is priced that the tax cuts are going to happen, the infrastructure spending is going to happen and obamacare reform is going to
happen. so if there's a disagreement, position, with tax cuts, we have something to be concerned about. stuart: yes, but, but the underlying economic picture looks pretty good this friday morning. >> definitely. stuart: you've got to ignore the stuff about russia and trump and the e-mails, this, that and the other. that has no relevance to both people's lives. wages, jobs, housing, that's what's relevant. liz: and corporate profits. stuart: a huge gain. moving on. let's get to the retail ice age. look at this, sales down at j.c. penney and the stock is now off 7%, it's under $5. sales down nordstrom. same-store sales, and that stock is down 7% at 42. scott, some market watchers tell us that retail will hit bottom soon. do you think that's going to happen soon? >> no, i don't. i think we've got a long way to go still. i mean, stuart, let's think about retail sales in
aggregate. only 10% are done on-line and 90% are bricks and mortar. what does that sector look like when it's 50-50. if we're only just beginning this move, i think we've got a long way to go and i think it's going to get uglier, unfortunately. >> internet retail sales are up 12% year over year and department sales down nearly 4%. this field of dreams, build it they will come attitude with the ghost malls on the rise, they're stopping with the mall stores, macy's cutting back stores and sales numbers look good in the future. >> and that is potentially webben had based sales and department stores down. now, jeff, i've heard many people say that amazon, this is all about amazon. and the stocks about $950 a share, too much for you? >> no, this is all about amazon and amazon, one of the recent initiatives, amazon getting into the furniture business
where they're offering free furniture delivery in two days? you know, people overlook that. stuart: really? >> people overlook that, very low under $25. amazon is doing something now, delivering bulk almost free and that changes a lot of things and people have to understand that, changes the whole landscape now. stuart: you can get a couch, a huge couch delivered in two days for no shipping fees. liz: or a mattress. stuart: no wonder the stock is at 955. it's extraordinary stuff. sears, the chairman lambert, he says the media has unfairly singled out sears because it's struggling and it's down another 3 1/2%. >> it's ridiculous, the fact he would say that, he took it right out of the play book, blame somebody else. starbucks actually said the
same thing, we have too many customers. the fact is the strategy of putting the focus on the media and not looking at the astronomical problems they have is reprehensible. stuart: scott shellady, i can hear you breathing heavily in chicago. get into this, come on, come on, i'm apoplectic, i agree 100%. why-- that's like a coach blaming sports writers. it's ridiculous. i've got a shockingly great idea for them. make some money, that's going to make it go away. make some money. stuart: you were in london far too long. liz: eddie lambert bought in 2004 and sliding in 2006 sliding ever since. the stock has been cut in half. now the debt of series is bigger than the market cap and that's eddie lampert. >> there's not one solution offered for sears' issues. if i was a sears investor i would be very, very upset right now, not one issue.
blame the media and-- >> have you heard the headline on the rampage. we don't need any more customers. we've got all we need. a better job of keeping them. >> yeah, the stock is down. >> that's it this morning. let's get back please to the fabulous 5 as i like to call them. the compete offer of what he is going on in the retail sector. all right, scott, back to you for a second. do you think these are getting too expensive? we've got them on the screen. facebook, microsoft, alphabet, apple, too expensive for you? >> no, they're expensive, but for a reason because that's where the action is going to be, they're going to innovate and create the wealth and that's where we need to be going forward. they're expensive and put it this way. those five stocks, i have a market cap of roughly 3 trillion. about 17% of the total u.s. gdp. that will give you an idea where the market thinks the important things, and important ways are. stuart: that's incredible.
the value of those five is 17% of america's multi-trillion dollar-- >> there's one company that doesn't deserve to be in that, it should be fabulous four, apple has not innovated. google, facebook and-- >> it's a $800 billion stock. stuart: blasphemy. >> they have not-- they keep rolling out new versions of old products. they have not innovated. they've become ultimately a cell phone company and if they don't innovate, they're not going to keep up with the other four, in my opinion. stuart: are you still pushing j.c. penney there? [laughter] >> got to be honest. got to be honest. check that big board. 40 points for the dow jones industrial average, 20,876. nasdaq still close to an all-time high. okay, it's down 1.8 points today. that's .03%. the s&p 500, i think it's down just a tiny fraction, where is
it? 2,390 on the s&p 500. here is a group of stocks which are never truly understood, but we're talking news, now called the cyber security stocks. yesterday, president trump signed an executive order to protect america from cyber attacks. okay. would you -- would you buy-- look at them on the board now, they're all down yesterday and down again today. i say they are down because they don't work. we're being-- everybody is being hacked all the time and these are so-called cyber security stocks and i don't think they're protected. >> look at the average corporate budget for cyber security, that keeps rising exponentially, i think the stocks have a lot of potential, cyber security is a main issue, yes, they have a lot of innovation they need to do to keep ahead of the hackers, and the hackers are still a little bit ahead, but i think some of these companies, like fire eye, which i don't own, but like fire eye, i think they're going to eventually found ways to innovate and solve a lot of
these problems as long as they step up. you know, sica, you're running out of goodwill. [laughter] >> you're not-- >> what i love about the president's executive order, he is he saying all of you agencies get on the same page with information technology, and get on the same page for enterprise computing. and what has obama been doing the last eight years, using ancient systems. and he says get in the clouds. stuart: did i hear an exasperated scott shellady trying to get in? now what? >> here is what i think, you know, this industry is heavily technologically oriented and they're telling us about our audits going forward, we're going to have to perform penetration tests to see if we can hack our own company. when this starts to trickle out and we're going to have to buy those services to help hack our own software, enthis it could
be something to go on board. stuart: a good point. another positive, the u.s. and chinese reached a deal on access for beef and financial services,both sides of the pacific here. i see that as a positive move as in no trade war. what say you, scott? >> i'm 100% agree. it started off bad when he was tweeting in china and when they got together in florida and finally had the meeting and did what they did with the tomahawk missiles, a lot of good out of that and this is the beginning. stuart: we covered a lot of turf in 11 minutes. that's pretty good. thanks to jeff and scott. good stuff indeed. next case, the left, apoplectic over president trump's firing of james comey on the verge of hysteria. you'll get my take on that at 10:00, top of the hour coming up. and also top of the hour, ohio's governor john kasich.
we'll get his take on james comey and the collapse of obamacare. "varney & company" continues after this. ♪ i use what's already inside me to reach my goals. so i liked when my doctor told me i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin. trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. trulicity is not insulin. it should not be the first medicine to treat diabetes
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with a non-insulin option, click to activate your within. so i thought it might be time to talk about a financial strategy. you mean pay him back? so let's start talking about your long-term goals. knowing your future is about more than just you. it's how edward jones makes sense of investing. >> it's friday morning and 20,877 is where we are. now this, sprint has reportedly begun preliminary merger talks with t-mobile. nicole, come in with details. nicole: sprint is relatively flat. it's been an unbelievable performer, up over 125%. there's been speculation about mergers in the wireless industry and we're watching sprint and watching t-mobile. the backers behind them would be softbank and deutsche telekom. and they and the deutsche chief executive said they would be hope to discussions about
consolidation. there was a sec talks, everything on hold and now the deals can happen. and stuart, this is happening as t-mobile and sprint have had their wireless subscribers on the rise while at&t and verizon have been losing those subscribers. >> all right, we shall see how this thing turns out. thank you very much indeed on the floor of the exchange there. technology, our next guest says the economy is poised for an innovation boom of historic proportions. we're talking big stuff here. john michaelson is with us, he's with michaelson capital partners, the ceo thereof. >> good mornings, stuart. stuart: it's john, i'm sorry, good morning, john. there you go. we're suggesting that we're on the verge of a huge leapfrog of technology on our lives, what he is leading this? >> we've had innovation the last decade, with amazon and uber, but every prior crash has been followed, like 2008, the
70, the 20's, going back to the 19th century and followed by massive restructuring in the economy and innovation and massive transfers of wealth from the rich to the middle class and the new innovators. it didn't happen after 2008 and that's really the story, why it will happen now. >> why will it happen now? >> the pain levels reached-- it happened before because you had massive pain following the crash. what we had here was ultra low interest rates and preserving the dinosaurs, regulation, putting moats around them and concentration. massive concentration, the highest profit levels and concentrations in our history. stuart: okay, wait a second. fast forward. >> no pain. stuart: no pain. >> what's happening in industry after industry is pain levels are becoming unacceptable a. let's take enterprise software, there you have oracle and sap and others built on 1970's and
1980's platforms and they're rickety and they've been adding and patching and don't work anymore. the new york stock exchange goes down, united airlines reservations goes down and date a breaches, can't make them secure, yahoo!. stuart: what technologies are going to lead this boom in innovation forward? >> since the las innovation boom 20 years ago, we've had each decade the thousand times increase in world processing capacity, storage, and bandwidth. so, for two decades a thousand times a thousand or one billion times increase in each of those, and we now have applications coming that will take advantage of that millions times increase. the applications that we're using in most places are built on platforms that were very slow, limited storage and limited bandwidth.
what happened was there was no pain. change only compain. stuart: tell me how my life is about to change because of the innovation boom you're talking about? >> i think you're seeing it as consumers, certainly, and affects you more personally, but in enterprise you'll see that companies are spending billions of dollars on systems that don't work as an example and they will have to throw those systems out as they threw them out before and put in oracle and others. and they will allow data mining, which the old systems do know the. stuart: is it just beginning? >> it's just starting now. it couldn't happen until now. it got postponed because nobody was feeling pain and you don't get change in enterprise without pain. stuart: here is comes. >> and here is comes. stuart: john michaelson, it's a fascinating idea and appreciate you coming on board with us. stay there, you're not allowed to leave the set while i'm still talking.
[laughter] >> check our big board, down 24 points, just shy of 20,900. almost there again. check this out. a watch from microsoft that helps control parkinson's tremors, we'll tell you how it works, how about that? in honor of mother's day, we thought we'd show you some pictures of our production team's moms. >> oh. stuart: see we've got a heart here on "varney & company." back with more in a moment. ♪ three times a lady and i love you ♪ ♪ yes, you're once, twice, three times a lady ♪ ♪ and i love you ♪
well, what are you doing tomorrow -10am? staff meeting. noon? eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life.
. liz: what happens in parkinson's, the brain fires off extra signals to the muscles and creates a chaotic feedback loop that causes the arm or muscles to trembler trum e tremors. it focuses on the wrist and a signalling device to interrupt from the brain to the muscle and gets the brain it focus on the action of the wrist. stuart: and dr. marc siegel is with us now and who knows more about this than i do. >> that wasn't bad, liz the innovation is fabulous. parkinson's, a loss of dopamine in the lower part of the brain. one of the first things you have is the tremors and you get
rigid, i can diagnose it in the office, but it's subtle. it may be a way to look at somebody with parkinson's before we would know it, that's huge. the way we use medication work at suppressing the tremors, but they've got a lot of side effects and people are dizzy and can't tolerate them. the second thing that liz is talking about here, maybe you could use the brain, with this device, to shot some signals to suppress the tremor, there's history of that in other devices and i remain wary of this. i want to see it work and tested and work in thousands of people before i'm sure of it, but the idea of it and the technology behind it makes a lot of sense. you can use signals from the brain to press tremor absolutely. stuart: the video that we saw was heart warming from microsoft, obviously, but it looks like there's a degree of control when you wear this watch for minor tremors in the arm.
and what i like about this is microsoft and the other technology companies have a mountain of money. literally half a trillion dollars the top three of them. if they start putting money into medical devices and medical usage, that's a very welcomed development. >> you know, you made a point here, when you said minor tremor and most start with a tremor and you can look at that without the medication and with the signaling, this is innovation and where we're headed, huge money involved in this much better than a side effect-ridden medication. stuart: fine piece of news this morning. dr. segal. thank you very much. >> thanks, liz, too. stuart: here is what i'm saying, the left spewing its hatred for president trump through the mainstream media. i think it's borderline hysteria and getting worse.
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stuart: surely the most hateful campaign in recent political history. the left is spewing contempt through it is media allies and president trump is the target. the attacks verge on hysteria. frankly the left appears deranged. it is getting worse. look at opinion pages just today. "the washington post," a survival guide to the abuse of power. of course that is president trump they're talking about. "the new york times," paul krugman writes in biblical terms. judas, tax cuts and the great betrayal. another "times" headline, who will save the republic? talk about hysteria. then there is the grandson of fdr's vice president who flat-out calls our president, a fascist.
abc, nbc, cbs, cnn, msnbc, alphabet soup, they have long since abandoned any attempt at on tivity. their contempt for president is on display on daily, no, hourly basis. we're in a political straitjacket. don't try to get out, you must join the hate fest or you're a it haar yourself. you remember a couple days ago a high school used a trump make america great speech to pump up the lacrosse team? the authorities found it necessary to apologize to anyone who might have been offended? offended? make america great again, offensive? what is going on here? first the mainstream media is a disgrace, unbalanced and unfair. they are not are informing the public. second, america has developed an outrageous double standard. what was okay for president obama is not okay for president trump. that is just not right. third, the left can't get over
its string of electoral losses. the house, the senate, the white house, 900 state legislature seats and countless governorships have all fallen to the republicans. the left is stunned. they're filling the void with hatred and contempt. this is not good. it is the left which is dividing our society. it is the left which is holding us back. it is the left, the coastal elites who hold the rest of us in contempt, look down on us and call us names. i don't know about you i'm not just going to get used to it. second hour of "varney & company" is about to begin. ♪ stuart: okay, i will calm down. the big board shows a loss 2points. latest read of consumer sentiment, lizzie. liz: 97.7, better than expected. elevated optimism.
five-month average. january read something best in 13 years. the financial outlook for individual households is at 50% plus. that is the highest in 15 years. meaning people who are feeling better about their finances. remember the gdp read was coming in a little low? people feeling better about the finances and consumer spending powers the economy, this is a good read. stuart: a solid read, optimism, confidence still have at very strong highs? liz: that is correct. stuart: no impact on the big board, we're down 25, 30 points as we speak. we're just sigh of 20,900. how about this, lower sales at jcpenney, lower sales at nordstrom. bricks and mortar stores showing weakness. jcpenney down%. same as nordstrom, down 8%. let me check the big name technology stocks we check every day. apple another all-time high at
apple. it is at 155 as we speak. amazon, 953. all of them close to or at all-time highs. want to get back to the my take editorial near the top of the hour. i'm saying that allies of the left and mainstream media are just spewing contempt on president trump. joining us now, republican governor of ohio, he is the author of the book, two paths, governor john kasich joins us now. governor, welcome to the program. you have a smile on your face because i suspect you do not agree with my editorial about the left spewing contempt on our president. go ahead. >> stuart, no, what i'm saying is, look, the media has responsibility, right? if you're going to write a news article, don't make it an editorial. if you're writing editorials, then you have to sift around and figure out what you belief. for me i consume enormous amount of information every day to try
to find out what i conclude from reading everything, but i think it is very important as i mention in my book, the media has a big responsibility. i look at the last election they made a lot of money. stuart: do you think they're livingp to their responsibility? i have never seen anything like we've seen the last six month? >> some are and some aren't. i have never known an ad administration that didn't think the media was after them, not one. you know the obama administration, clinton administration, bush administration. look, when you hold these jobs, stuart, like i'm the governor here, right? i get attacked all the time, and so the question is, how do you deal with it? do you try to be patient, explain your point of view. but at the end it is, like what harry truman said, if you can't stand the heat you got to get out of the kitchen. i feel though there have been things written about me that are cheap shots. i have to do my job, not let it
get to me. i let my press people deal with it too. there are growing numbers of americans, growing numbers of americans who don't think they're getting honest news an, it is a concern. it literally is because these are people who are highlyessful. they share some of the views that you have. this is the problem. stuart: governor, i have never seen it as personal as this. mainstream media loathes this president, loathes him. >> i, stuart i will not have a debit the media. i told you what i think. i think you should not be doing editorials as a, calling that news articles. leave editorials on the editorial pages. there is left-wing, there is right-wing, there is all kinds of stuff. we went for a long time in this country where there were big group of people who said that barack obama was not born in america, you know? that he is some muslim or something. i mean it is everywhere.
all it does, all it does, let's get to the bottom line on this, stuart, it divides us as people. stuart: yes. >> and our country is never going to be strong if all we're doing is fighting with one another. frankly, i will tell you, and i point this out in my book, that why, what we need to be more concerned about is what is happening in our own families. what is happening in the house next door to us. not focused on this policy and that policy in washington because even though they after fact us, most things that directly affect us each and every day is what happens next door. and so i'm also a believer that we need to learn again, to love our neighbor as we want our neighbor to love us. if a media person will act, think about what it would be like if somebody attacking their son or daughter themselves. i think this values question about us being able to unify is important. doesn't mean we have to give up what we believe. i think you need to talk to these people that you don't agree with, look, i don't think
you're carrying out the responsibility. have a civil discussion. stuart: now i have known you for many years, governor. i know that you are a christian, a practicing christian. you are a believer. >> well i fail every day but trying to be a man of faith. stuart: of course we do. >> not you as much. i'm a number one failure. stuart: stop it. flattery is the mother's milk of television, sir. does your christianity, your faith, your belief does it infuse your politics? >> not really. i don't read the bible to figure out how i am going to make a decision. i will tell you, as a result of looking at what, you know, i think all the religions would basically agree, that you can't ignore the least of those in your society. that doesn't mean you tear down the people at the top in order to help the people that are down below but they need to be, we need to be concerned about them. so there is things that make me, you know he, i'm very concerned
about people who live in the shadows. does that come from, you know my faith? part of it does. part of it comes from the fact that i want people to be healthy. i want them to have a chance to rise. whether ronald reagan or john kennedy, a rising tide lifts all boat, give everybody a shot in your society. doesn't mean a hand out but a hand up. stuart: yes, sir. governor i'm afraid we're out of time. >> always good to talk to you, stuart. i haven't talked to you for a while. you're something, man. by the way i do want to tell you, i do want to tell you this. we do have a revenue problem in our state and all across the country. we need to have deep, strong economic growth. stuart: yes. >> i do like that section of the president's tax cut proposal that helps small businesses very, very important. and in dealing with the corporate rates. i think top rates, marginal rate, i'm not as concerned about frankly as i am corporate rate and also those provisions that help small business. i think that would help our economy to grow and help people. stuart: governor, i'm very glad we got to that.
don't be such a stranger to "varney & company." a lot of people watch us. >> i won't be, stuart, thank you. stuart: thank you, governor, appreciate it. let's get to the firing of james comey, shall we? the media is relentless about the president's action and the president is tweeting this morning about it. here we go. again the story there was collusion between the russians and trump campaign was fabricated by dems as an excuse for losing the election. he continues. the fake media is working overtime today. christian tate joins us, government gone wild. she is the author of that book. i like the title by the way. >> thank you. stuart: libertarian, right? >> yes, yes. stuart: what is a libertarian's view of this brouhaha about the russians and president trump and comey? give me your take. >> the bottom line the media will do anything in their power to take trump down. this is the height of hypocrisy. in the fall the media was
horrified comey is staying. now they're horrified he is going to be fired. does anyone in this country really take the media seriously? anymore. they don't try to hyde their bias. they are flagrant and open about it. a lot of these outlets basically just arms of the democratic party. if you want to talk about the campaign, 91% of their coverage towards the trump campaign was negative. 97% of media campaign donations went to hillary clinton. i think has gotten a lot worse since he got into office. stuart: my problem is, the media is very, very strong. we all consume media. we all watch television. we all read newspapers, or we get it in on our facebook feed, whatever. they are defining and controlling the culture. i really object to that. they're making these things into collect tiffists? >> you know, stuart, the american people are not stupid. they know exactly what is going on. why only 32% of americans trust the media today. the more this bias continues,
the less influence these outlets have. "the new york times," they're not changing anyone's mind. the only people who read that anymore are latte-sipping liberals on upper east side already deep in the democratic party. "new york times," "washington post," a lot of these outlets basically become spin-offs of "mother jones." thankfully for us conservatives we have diverse pool of media outlets to choose from, fox, things online. there are all kinds of voices can will come at the table now. stuart: you're right on all counts but you're wrong on one. it is latte-sipping liberals of upper west side, not upper east side. >> i live on upper east side. there are a lot up there. stuart: take your word for it. i live in new jersey. kristin, thanks for being here. >> thanks for having me. stuart: all right. the president trump will give the commencement at, liberty university this weekend. this as commencement speakers become increasingly politicized. all over the country. liberty's president will join us next.
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>> i am honored to become a while cat. [booing] -- wildcat. it's a real honor and privilege to be with you as we celebrate the bethune-cookman university of class of 2017. stuart: you could hear it, education secretary betsy devos booed by students during her commencement speech at an historic black college. president trump will speak at liberty university's graduation. here he is, jerry falwell, jr., the president of liberty university. why did you invite president trump, sir? >> good to be with you, stuart. i invited president trump back in december. i got the acceptance in march. we're just so honored as a university to have sitting u.s. president to do first
commencement speech at liberty. for generations tradition was first president to do his first speech at notre dame. there were protests there this year. it is so disrespectful, these universities, many elitist universities, we have high regard to be notre dame. we inspired to be for evangelicals what notre dame is for catholics. places like berkeley and ivy league, liberals used to defend free speech. they used to be about academic freedom and free exchange of ideas. now they seem to be fascists. they want to shut down any view pint they don't he -- don't agree with and disinvite speakers. mayor bloomberg spoke at harvard and part of his speech was chastisthe ivy league because, 96% of their staff voted -- contributed to the obama campaign the year before. stuart: what would you do if
some student at liberty university if they booed or turned their back on the president or in some way insulted him? would you do anything to those students? >> absolutely not. and you know, i'm so proud of our students. they treated bernie sanders with utmost respect even though most of them didn't agree with a thing he said. and there might be a few that there that don't agree with donald trump's policies but, i really expect them to show the same respect they showed to bernie sanders. and i wish other universities had that same decorum. i remember when my father was back in the '80s, i traveled with him when i was in law school. he spoke at a lot of ivy league schools. back then they would welcome conservative speakers. they would pack the auditorium out and they would boo and his some, but at least then, they didn't try to disinvite them or kick them off campus. so it has really gotten worse since the '80s i've noticed. it is sad. stuart: liberty university is
the home of he evangelicals primarily, i believe. what do you make of pope, of president trump visiting pope francis during the gsummit? -- g7 summit? >> i think it's a good move for him. pope francis has more in common politically with obama than he does with president trump but i think they can maybe work past some of those differences. seems to me like the pope is more of a socialist than than any pope we've had recently but, i think, i think president trump will make some inroads there. i hope he, i hope he does. stuart: jerry falwell, jr., we'll be interested to see what president trump says at the commencement speech this weekend. thank you for being on the that he today. >> good to be with you, stuart. stuart: thank you. stuart: next case, liberal lunacy on examples, other campuses. university of arizona paying students to rat on their peers. can you believe that? they're doing it.
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stuart: look at this. pandora, the stock is ups nicely. money manager steven cohen's firm taken reportedly a 5% stake in it. that is good enough for 4 1/2% gain for the stock. look at this. political commentator, boy a darling of the left, noam chomsky is attacking the republican party. here is the headline from the "washington times" quoting chomsky.
republican party, the mess dangerous organization in human history. overstatement perhaps? kirsten tate is still with us. republicans, noam chomsky, this is a guy i remember back in the '60s and '70s. he says be republicans are more dangerous than isis and north korea. >> liberals are starting to go off the deepened comparing republicans to isis. i don't remember republicans chopping the heads of christians raping women they make the comparisons and get away with it. the media hasn't reported on this story much. stuart: if there were something similar said about president obama at any point in his eight years, i suspect the reaction to be completely different. you would be done for. >> whoever said that would have career ruined, called racist. ashley: actually. you know why they're the most dangerous organization in the history of, human history? climate change. stuart: that is his reason. ashley: climate change.
liz: republicans are backwards on climate change. he equated this to terrorism as well. that is the theme that republicans want to wipe out the planet because they're not serious about climate change. stuart: noam chomsky, wrote about language and how children learn language from leftist perspective. i remember this back in the '60s. ashley: sure. stuart: now climate change because republicans are not on board with legislation. ashley: americans only country in the world under republican as who deny it. the u.s. is alone against the rest of the world. that is why gop is so dangerous. liz: republicans don't decline climate change. cheney says its happening. mccain says it is happening. this is broad generalization. stuart: republicans have the problem are way we deal with it. liz: that is the issue. >> or extent we're causing it. ashley: yeah. >> these are comments when democrats say this stuff, people roll their eyes. they lose their credibility.
this is ridiculous statement. stuart: yes it is, kristin. thanks for being with us today. >> thanks for having me. stuart: dems in disarray, continuing to make wild claims. one says a paul revere moment is coming. you won't believe it, but we do have the story and you will hear it in a moment. hi, i'm mindy kearns. it's great to finally meet you.
nice to meet you too. your parents have been talking about you for years. sorry about that. they're all about me saving for a house, or starting a college fund for my son. actually, i want to know what you're thinking. have a seat. knowing that the most important goals are yours. multiplied by 14,000 financial advisors, it's a big deal. and it's how edward jones makes sense of investing. ♪ stuart: wait -- i was trying to get into this, this is the beatles. i do kind of a like the beatles. that was a fine, fine song. happy mother's day from everyone here at "varney & company." here are some of my producers with their moms.
this is sample of them coming on your screens. ashley: very young. stuart: right. from some time ago. happy mother's day. it is sunday, all good stuff. now this. president trump's lawyer making a statement about the president as tax returns. we're quoting from the associated press? ashley: says the trump lawyer says tax returns from past 10 years show no quote, income of any type from russian sources, unquote, with few exceptions. stuart: no income of any type from russian sources with few exceptions from the president's tax returns of last 10 years. ashley: correct. liz: ashley's point, what the lawyer is saying, russians don't own stock in any trump entity nor does the trump empire owe any debt with the exception of miss universe pageant in moscow, income from there. $95 million from the sale of trumps's house in florida to a russian fertilizer king, a billionaire. in 2008. stuart: that is what the lawyer says looking at the tax returns.
that will not satisfy the democrats. it will not. however they said it. check your money please. the dow jones average down 40 points, just shy of 20,900. look at the fabulous five. particularly ones at bottom of your screen, apple. hit all-time record of 156.42 a few moments ago. still holding at 155. marginal, fractional moves down for facebook and microsoft and alphabet. they're still way up there, are they not. now a couple of headlines for you from, this is happening on college campuses in the united states of america. the university of colorado at boulder creates dorms, segregated for black-only students and their allies. that's their choice. segregation. university, or arizona university paying students $10 an hour to report bias incidents on campus. that would be campus snitches,
isn't that right? charlie hurt joins us. you see him frequently on this program. founder of turning point usa. you have been appearing here for many, many years you acknowledged nonsense on campus and it looks like it is getting worse? >> i would blame the negative trend from trump's election. the left is overplaying their hand. they look at campuses the battleground. if the left lose stranglehold on this what influence do they have? all their influence in culture originates in academia. if there is equal lick bream restored on college campuses you will see conservatives do much better for 40 or 50 years. tennessee passed state legislation statewide gets rid of free speech zones. stuart: really?
>> pockets of the country going well. berkeley not so much. stuart: on college campus there is is certain zone, can say what you like. isolated. >> size of a couple parking lots. for viewers don't know, free speech zones. you can only speak freely on campus within those zones during certain hours after preapproval and you get a license from the administration. stuart: you're kidding me? >> not making this up. you have to get approval from the administration. stuart: what you're going to say,. >> what you're going to say or do or advocate. if you talk outside of the free speech zone, then you're subject towards, you could be reprimanded. you can be brought into the office for having trigger warnings or microaggressions. now what is the most concerning thing, on college campuses administrators are teaching students that being offended is a form of assault. think about that. like being punched in the jaw is the same as you said something that really offended me. as an example if you say the term radical islam and a muslim
student says that offends me, that is assaulting to me. they can literally censor speech because of that. of course never towards conservative students. stuart: never ever, ever. in tennessee they say stop that. >> state legislature. that's right, they passed an incredible bill i hope the federal level looks at closely and other states where they say, no more free speech zones. university does not have the a ability to disinvite a speaker a student group wants to invite on campus. this is something that everyone should support but unfortunately, the left doesn't want free speech. they want protected speech. stuart: charlie, thanks very much for coming on board with a report like this. >> i'm on the front lines of this every day. stuart: turning point usa. >> thank you. stuart: you're still going to be president in 2040, whatever it is? >> i don't know about that but we'll change campuses in the meantime. stuart: kirk, you're all right. thanks for joining us. now this. democrat, literally hysterical
over the firing of james comey. listen to senator cory booker on the clinton news network, cnn roll tape. >> donald trump clearly has not taken this seriously, what should be a paul revere moment for our country where people are talking about the russians are coming, they're intending not only to attack this past election but intending to continue this behavior, what will our response be? right now it is wholly unsatisfactory from this administration. stuart: the russians are coming, the russians are coming. look at that man, smiling now. we'll see if he smiles two minutes time. lawrence jones joins us from the blaze. what do you say, brother, the russians are coming? >> all i want to know, stuart, where were the democrats back in 2012 when mitt romney was talking about russia? they made fun of him. media made fun of him. now all of sudden we're supposed to stop what we're doing, russians will take over america. donald trump is double agent for russia. stuart: [laughter]. not smiling now.
seems to me, that the response of the left to this whole story about the russians and emails and hacking all the rest of it, it verges on his tear you yaw. it is personal -- hysteria. it is personal. i feel they loathe president trump. how about you? >> i feel like they loathe him you but also are straight up lying. we've heard a lot of them, reports and the media of course say, hey, fbi director was requesting more resources. acting fbi director said that is not true. donald trump is under investigation when really campaign but it is not donald trump. that was confirmed by chuck grassley. dianne feinstein also a democrat, and president himself, so we're seeing a lot of rhetoric back and forth, back and forth but it is not the truth. stuart: do you think it will calm down at all in the immediate future? >> oh, no, because they're banking on this. this is their rallying, rallying
call to get democrats involved, to enlighten their base. but what they forget is, donald trump has a direct connection with the american people. sometimes i want him to stop tweeting but sometimes i think he connects very well with the people and so they're not, so concerned what the press or democrats are saying. stuart: speaking of tweeting, listen to this. president trump trolls rosie o'donnell on twitter, after she called for james comey's firing months ago. this is the tweet from mr. trump. we finally agree on something, rosie. your reaction? >> this is funny. that is why i like about donald trump. calling out the hypocrisy. it was not just rosie o'donnell, a lot of democrats calling for him to resign. calling for him to be fired. all of sudden because donald trump did it, they want to question the timing. stuart: i have to ask you, you're a black guy. you're relatively conservative. you like free markets.
you're -- do you catch hell for it because of what you say and who you are? >> yeah. well, stuart, first of all i'm not black, i'm chocolate. i embrace my inner chocolateness. stuart: what am i, chalk? [laughter]. >> i love everything about being a black-american. i love being american. i connect very well with my community. there is a lot of people on social media that want to send death threats. i connect with my people. i try to expose the left what they do and give my community a better option. we know the democratic party failed my community for many, many years. i'm fred fed up with it. stuart: lawrence, let me tell you something, to me you're not a victim. >> that's right, that's right, sir. stuart: you can come back anytime you like, okay? anytime you like. >> i hope to see you in new york soon, brother. stuart: you're on your way i hope. lawrence jones, thanks for joining us. see you real an soon. >> thanks, brother.
stuart: we have a breaking news story. streaming music service none known as spotify. they're going public? ashley: they're going public, but do it in a unusual way. they will direct list. there are no underwriting or set price for the shares. go to the new york stock exchange and list them for sale to the public. it has been done before just like that. sometime later this year or early next year. liz: you can get into it. usually set aside shares for friends and family. stuart: one day they front up on the exchange i have shares for sale, who wants to buy and what price? ashley: that is direct listing. an interesting twist on going public. stuart: that really is. i never heard of that before, never ever. liz: interesting stuff. i think 8 billion valuation on this one, pretty high. ashley: it is pretty high. stuart: love it. thank you. ashley: sure. stuart: physicist stephen hawking says humans must colonize another planet in 100
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stuart: sure you're familiar with stephen hawking a very famous physicist. he issued a warning, humans have only 100 years left on this earth, then they have to colonize another planet. he says our planet, the earth is doomed. our next guest says he got it all wrong. here is the quote from our guest, here it is, look for the adventure i go to mars this minute. for refuge, no thanks, stephen. i plan to stick around hoping to leave a better place than i found it. here is michael gillian, author of upcoming book, the nul
prophecy. where is hawking so totally wrong that the either is doomed within 100 years? >> listen, good morning, stuart, the man is entitled to his opinion and we're entitled to not to take him seriously. the problem es stephen hawking is using his scientific credentials to make statements not at all scientific. he knows, i know, that science does a lot of things but it does not have the power to look into the distant future and predict a specific outcome. he of all people he should note this, when he was 21 years old, doctors diagnosed him with lou gehrig disease. when they looked into all the latest mical sence, yoknow you will not survive beyond 25. now he is over 70 years old. he can make sensational prognostication, if he does he should leave university of cambridge and join the psychic hotline or better yet hogwarts, become a professor of clairvoyance. stuart: he is basing his gloom
and doom forecast essentially on climate change. that is what it is all about. >> not just that. overpopulation. he is worried about these near-earth objects, objects that come perilously close to impacting the earth. he is talking about drug resistant diseases, there is whole laundry list, believe me, i'm on board. we have a lot of problems but, again, where i fault him is to make this very specific prediction 100 years from now the clock is ticking since last november, he said with near certainty, those were his words we had 1000 words. so what changed? stuart: brings discredit on whole idea of scientific prognosis looking into the future. >> exactly. stuart: discredits look into the future. look, we've got, we found some scientists found unexpected source of, what some are calling climate cooling. >> yeah. stuart: i want to know what you think about that. arctic waters absorbing vast
amounts of carbon dioxide. that creates they say a cooling effect many times larger than the warming emitted by methane gas. to many of us that is gobbledygook, can you put it into perspective, please? >> this was published in the national academy of scientists last week. author a guy from the usgs, geological survey, very credentialed worked with people in norway and germany but here was the gist. we hear a lot about climate change. that is subject become very, very politicized, so very difficult to tease out what is true and what's not but here is the thing, very exciting. and that is people hear about carbon dioxide being the bad guy, that more carbon dioxide gets into the atmosphere hotter it is, indeed, carbon dioxide is what we call a greenhouse gas, it causes the earth to warm up, even worse than that, 30 times
worse than that is methane. methane molecule for molecule 30 times more potent as a greenhouse gas than carbon dioxide. we worried a lot about places in the ocean all over the earth where we see methane welling up from the surface of the oceans. so these scientists went to the arctic, just off the coast of some norwegian islands, expecting to measure how terrible this was, that this methane was the coming up from the surface, bottom of the arctic orb shun there, going into the atmosphere and causing warming. what did they find? but that for reasons that we don't know yet, this is what make this is story so very interesting, is that yes, they did find some methane as they expected coming up, but they found carbon dioxide was being suckedded in at enormous rate. carbon monoxide was being removed and net effect was that the cooling resulting from the rye move of the carbon monoxide
at these locations is 200 times for more cooling due to removal of the carbon monoxide than the heating being caused by the methane. so this turns the narrative completely upside-down. stuart: michael, i've got to leave you but i have not heard about global cooling since it was either "time" magazine or "newsweek" put it on the front cover back in the 1970s. i do remember that. michael gillian, author of the book, the null prophecy. >> always a pleasure, stuart. stuart: how about this. we reported a story for some time. chaos in venezuela, more violent protests. they turned deadly. late of the news,. liz: liz: it is getting worse. maduro treating people in the protests like enemy combatants. he is putting them before military tribunals. meaning they're inciting rebellion. he is already treating his opposition as if they're committing terrorism. but now, these regular moms and
pops and students are being put before judges from the military, and they're sent to prison. so 120 people in prison right now, i'm talking farmers, mechanics, entire family was sent to prison from military courts of justice in the tight grip of maduro. more news is coming out. maduro fired his health minister for publishing infant and maternal mother mortality statistics. stuart: which are through the roof. liz: through the roof. 39 people dead in six weeks of unrest. stuart: dreadful situation. collapse of socialism. never put that way in the establishment media. collapse of socialism. liz: that's correct. stuart: everywhere you look, contempt for president trump in the media. there are plenty of positive things happening in this country. economic optimism is here. we'll show you numbers. my take at top of the hour at 11:00. more "varney" after this.
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here we go. i am writing in regard to a minor issue and a mild irritant at least to me. the peeve is the music played when the show goes to a break. this music targets much younger crowd than those who watch varney. whoever the producer in charge should have a good talking to and be told he or she is annoying a lot of viewers with his or her misjudged belief what we would prefer to hear. nothing would be better. ashley and liz are laughing and i don't know why. liz: i say it is better than, better than the funeral music you hear at msnbc. what you play at the breaks. stuart: well-said, liz. i knew i liked you. ash? ashley: nothing wrong with little young or pep, markets are up. we can't always be doing old school music. life is variety is the spice of life. that is true with music as well. i understand things he is saying what the heck is that?
you have to take it all, enjoy it. liz: you have said that. ashley: quite frequently, as stuart. stuart: you don't like the beatles, is that it? ashley: i love the beatles. can't play it every day. stuart: rolling stones fan. what is that other one -- liz: led zeppelin. nothing but led songs. beatles are the first boy band aren't they? stuart: stop it, stop it right now! modern music, on this program, and that's what we're going to do. take -- not say take it or leave it. he might leave it. welcome abod, everybody, new brand of music on this program. we hope you like it. we will be bark with more of it. ♪
politics has indeed turned very ugly. but, please, let's not ignore all the good things that are happening in the economy. item one, new claims for unemployment benefits are at a near 30-year low. the firing trend is done. employers are gearing up for expansion. this is very good. two, corporate profits are the best in six years and let's get over the left's idea that profits are bad. you need profit to invest for more jobs and better pay, that's very good. three, starting salaries for this year's college grads average $49,785, the best in decades. number four, youngsters just starting out on now buying homes rather than renting. double the number of first-time buyers over first-time renters, pretty good. you will not hear much of this in the mainstream media, they are far too busy drumming up hatred for our president, make no mistake, it is president
stuart: okay, you got your point of view and i'm glad you shared it with us. how about retail ice age, you know that's the story that we feel very strongly. i'm going to give you two companies right now, jc penny and nordstrom, their sales are down over the previous year, we had berg on the program earlier, he's the guy who coined the phrase retail ice age. >> they're going to be many more casualties filing for bankruptcy, liquidation, retail rationalization. i have a shocking idea, make some money, that's going to make it all going away. stuart: the guy in the cow
jacket, he was talking about sears, we have too many customers as the stock goes down and down and down. leanor, what's your take of bricks and mortar of our economy? >> it ssight at the intersections of two investing things, the cash dropped consumer, the reality is that household income today is below where it was in 2000 and real wage growth since the financial crisis has been relatively nonexistent. families are pinching their pennies and a heck of a lot easier to compare prices by whipping smartphone and online and getting on the car and spending any to try to find the best deal. stuart: are there any groups of stocks like the big technology companies on our screens right now, some of them, that you would buy? >> at these prices i'm hesitant to hop into anything. we have the s&p 500 right now,
two standard in deviations above where it normally is. right now stocks are really priced high and the high-flyer stocks, there's only six stocks that have accounted for about 40% to year to date gain. stuart: that is true. i hope you have a very good weekend. >> you too. stuart: i hope the people who you manage money for are watching the program and listening to what you had to say and i hope you didn't miss 10% rally since the election of president trump. >> not at all and i like your music. [laughter] stuart: manages money both here and europe and we appreciate you being with us, thanks, leonere. >> thanks. stuart: come on in, please, radio host larry o'connor, the weekly standards online editor. larry, you talk to people every day, my premise is that all the stuff about comey and political
turmoil, it goes people's head and ignore what's happening in their lives, much say positive, what say you? >> it's made for manhattan kind of story and as a new yorker i'm impressed actually as a new yorker that you can look beyond that. i can tell from your thick queen's accent that you have a new yorker. it's true. actually you left one out and that is all of the job openings and the manufacturing base, we heard about that on wednesday. that's a huge thing for all voters that were overlooked in michigan, wisconsin and pennsylvania and the democrats and the media are making the same mistake that they made during the election, they are focusing on hatred of donald trump instead of focusing on policy and prove positive is this, you ask any hillary supporter or democrat what is your objective opinion of james comey as fbi director and they'll say they hated the guy, so this all -- all of the
hysteria over james comey doesn't resinate with voters because most trump supporters and most hillary supporters both agree on one thing, even rosie o'donnell and donald trump agree on it. comey was not a good fbi director. stuart: what strikes me is the personal nature of the attacks on president trump and his administration. it is personal. they loathe this guy. do you pick this too? >> republicans and establishment share in that. he alienated a lot of the republican establishment here. not republican voters and not only is it personal but also staking their claim on the high negative ratings of donald trump, again, exactly what they did in the election, they think that the american voter can't pull the lever and actually support a politician who they may personally not like but at the same time they like their policies and i think that's a
real miscalculation. stuart: don't be such a stranger to the short, we want to bring you shortly. >> stuart, i love coming on kanye and company. stuart: i'm going to call this a warning sign economically, it's a record amount of debt held by millennials, give me the story. liz: a third of the nation's consumer net, 1.1 trillion out of the 6 trillion that's out there, consumer debt we know is hitting -- it's still at record levels through the roofs. this is a policy issue for washington, d.c. colleges and universities are nonprofit, skyrocketing tuition debt is gouging middle-class families, this is an economic
growth issue, when you have the colleges gouging, these students, they cannot make the big-ticket items that power the economy forward. stuart: all of them. that's a problem. that's one economic negative stacked against one of the positives. health provider bluecross blueshield is partnering with lyft for free rides, whether he tell you why they are doing this? just a moment. let's get to venezuela rock bid more violent protests this week, next up we will joined by a man who said president trump would be the man who save venezuela and we will be back. [vo] when it comes to investing, looking from a fresh perspective can make all the difference.
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ashley: we do. this is from a lawyer and tax preparer of donald trump who the president asked to go back ten years and thoroughly review in federal tax returns and came back and basically said, there is no -- with few exceptions as detailed below your tax returns do not reflect any income of any type from russian sources. so you ask yourself what were some of the exemptions, a 95 million-dollar property sold to russian billionaire back in 2008 that was the investment that lizzie was talking about in 2013 miss universe pageant. there's no equity investments runed by donald trump or debt owed to russian lenders. would that be enough for the democratic critics? no. stuart: they still want to see tax returns. more violence in venezuela, very ugly, massive crowds to protest
socialist government. there's a way that president trump could help them, martin, venezuela-american leadership council president is with us now. how can we help, what's the solution here? >> well, good morning, thank you for the invitation. i do believe that president trump has a great opportunity to help a country which is submerged in a very difficult time, government that's being basically taken over by a drug cartel, a little criminal organization. we have to acknowledge that president trump start his term and the very next day of the day that he took over the white house the process of designation of vice president as king pen was requested during president obama and holded and president trump move forward and approve it with the new secretary of treasury. action like this can be used to attack this criminal
organization is running a country. i'm sure most of your viewers have seen the syrian articles, this is the closest to that you can get. stuart: i'm not sure -- not quite clear, martin. what should we do, prosecute members of the government on the grounds that they're drug smugglers or drug people? >> well, there's two ways to do it, federal jurisdiction in the united states, florida and new york mainly has been taken care of persecuting those people in the government who is fueling drugs in the united states every day. the other way of action is using legal powers that the government has to move sanctions against the key people who hold the money for this criminal organization. that's very effective. stuart: should we send any food? >> well, the united states government we heard that they are ready preparing to have
humanitarian support eventually. the problem you have right now is as long as this criminal organization keep running the country, it's very hard to do it because they don't want the united states government to come and offer the help, but, yes, at some point it will be very well welcomed by the venezuelans who are dying. stuart: should we have our cia have quiet word with venezuelan and say, don't get on the way, we will change the government? there's a limit on how far we can change with sanctions or prosecuting drug criminals. at this point, doesn't it come to action, come on, we have a cia, what's it for? >> absolutely agree with you. yesterday director mike pompeo made a good statement in the senate where he basically acknowledged that the venezuelan
military are allowing colectivos to transfer weapons and use civilians which are basically -- i think this is a strong message that can be basically delivered by the cia. stuart: good stuff, thanks for joining us, we will see you soon. >> thank you very much. stuart: health provider, bluecross blueshield partnering with lyft the car service, offering customers free rides to the doctor. that's new. ashley: this is interesting, they don't have to have the app. so when you make your next doctor's appointment they'll find out do you need -- are you in an area that's not very well served for public transportation and they will arrange with lyft have you picked up and taken to the appointment. stuart: who pays? >> the doctor's offices are covering the costs with lyft. i think that's a great deal.
stuart: great deal. all good? i said it at the top of the hour, every way you look pure content for the president and the media. later this hour we are joined the former nbc chair bob wright, he knows a thing or two about the mainstream media and he's on the show. i want to bring you this, a shot warning in california, dozen of great whites spotted off california coast. dana point, i know that area very well. a warning to a group of paddle boarders, listen in. attention in the water, this is the orange county state department, let you know you are paddle boarding next to 15 great white sharks. stuart: how would you like to hear that? officials said the number of sitings has increased because of a driving ecosystem in the area, you get it all on varney & company. stay right there.
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stuart: i know it. i do. one love. by the way, ben and jerry's the ice cream people taking inspiration of the song. banana ice cream mixed with swirls of caramel and cookie and chocolate piece signs. ben and jerries socialists. ashley: they should go to venezuela. stuart: you're terrible. unveiled a new watch, people suffering with parkinson's. >> it may be able to be aware that somebody has parkinson's early on. that's huge. stuart: i just like to see cash moving to medical arena, research have already started
trails. check out big board we are coming back, a very small loss, though, down 26 points, apple spending a billion dollars to expand their data center in nevada. the tech giant is making a big money from its online services. we are talking storage for your photos, videos, streaming music, that's outshining the sale of their devices, apple is at 156. now, this california governor jerry brown pulling funding from the university of california after audit revealed the school has been raising tuition despite a big cash pile. yes, we've got stories on that one for you and president trump taking heat from mainstream media but we are focusing on the positives of the economy, there are plenty, here is one, unemployment fall to go lowest level in almost three decades. we are on it. we will follow it next.
employment policy instate managing director. michael, here is my list of positives u unemployment claims lowest in nearly 30 years u profits up 13%, best performance in six years, starting salaries for graduates, 49,000 a year, best in decades, more home -- first-time home buyers than first-time renters. i call that all of positive signs which we are not hearing much about, what say you? i would like to contrast with the approach that's being taken, i think, in left of center stage right now. you look at the national data and you see that hypotheticallening labor market means more people who want full-time jobs can find them meanwhile later this month new york city will vote on a bill that's designed to use the heavy-hand of government to boost full-time employment by penalizing employers for making scheduled changes for part time employees. it's another example of market forces actually providing the kind of opportunity that people want as oppose to the sort of
heavy-handed mandates that we are seeing on the coast. stuart: i think you have done a study of minimum wage hikes and the impact on restaurants, tell us what's happening to them? >> you know, we have actually been looking at the city of san francisco, i mean, in the bay area alone, you know, since the fall of last year over 60 restaurants are closed more since the beginning of the year and what we are finding is i think san francisco sort of thought that tourists and techies would be willing to pay the cost of higher minimum wage. restaurants there are closing up and other industries are looking for the exit. we are seeing the signs that there's no free lunch in the minimum wage debate. i think it's standing as an example for other cities and other states around the country, a warning sign that this is what
happens when you embrace the recommendations of the fight for 15. stuart: you made a statement those people who got part time work are looking for full-time work and they are finding it. what's the statistical basis for that? >> i was reading a usa article that looked at the trend over time. i think there's been a lot of concern and you heard a lot of rhetoric specially on the coast about workers who like to be working more hours and so i think the important thing tends to be making sure that employers have the freedom to provide opportunities, seattle, new york and possibly new york city that try and mandate that and specifically do it in the restaurant industry. stuart: thanks for joining us. looking in the positive side of things, we like that. see you soon. let's get to obamacare, yes,
it's in a death swirl, insurances pulling out of exchange. betsy mccoy is with us this morning. look, this thing is dead. >> absolutely, they'll be very few healthy buy nester the fall market. stuart: look, it's dying as of now this thing is collapsing and dying, the republicans have to replace it. if they don't replace it, they get the blame for what's going on. >> absolutely. that's why senator mcconnell, majority leader in the senate, must revise his schedule, he said he was going to take months and let his members write a bill from scratch. he does not have that luxury. they must make adjustments in the bill passed by the house and apply it this winter so that the states can revive an individual insurance market in time for people to buy coverage otherwise you will have millions and millions of middle-class people
who don't get coverage on the job uninsured because they have nothing to buy. stuart: there are some republicans who say let it collapse, obama and democrats will get the blame. >> the guy sitting in the top will get the blame and that's president trump. insurance experts said, even before it was passed, it will collapse because of the pricing mechanism which was so contrary to common sense, everybody said that the healthy would pull out and the insurance companies would follow them out of the exit door but nevertheless president trump is at risk for getting the blame. stuart: you have seen the bill coming out of the house, if that's the version of obamacare, will it fly? >> i think it should. i'm astounded to hear 24 million
people will lose coverage. that's a complete lie. no one on medicaid will be ripped away from anyone. slows future enrollment, that's for starters. the infant with the oxygen mask struggling for life, babies who are born with heart defects and other problems will be given the full range of care just as they've always been before obamacare, during obamacare and under the house bill and people with preexisting conditions will be fully protected with 138 billion-dollar fund dedicated to protecting people with preexisting conditions. stuart: all right, betsy, pounding the table as usual. you have to get it done or you'll take the blame, betsy mccaughey. the white house has a short list of names to replace james comey. ashley: they do. there's about 11 names on the list. we picked up five of the most
recognizable beginning with ray kelly, he's on the list, trey gowdy, john cornyn and on the list andrew mccabe because he's the acting fbi director. 11 names on the list but those are the five that stick out that we know. stuart: that we know. i've got a story about california, governor jerry brown is pulling funding from the university of california, an audit reveal that had the school has been secretly stashing money. give me the full story. liz: $175 million in secret reserves, this was found by a state audit. so jerry brown is saying, wait a
second. we, my office is going to withhold 50 million of that, janet napolitano and uc california until you get together with finances. the secret reserve was set up and they were raising tuition and asking the state of california for more money so they found that 32 million of that secret stash could have gone toing tuition. so now this is a fight between top democrats in the state of california, jerry brown, quote, said i want to hold their feet to the fire. stuart: check the big board, we are down 13 points, coming back a little bit there. we are at 20,900, back to that mark. nasdaq very close to another all-time high. that's the nasdaq, home of the many, many technology companies, up 3 points now. 6,119, who would have thought?
s&p 500 again near an all-time high, down a little this morning but 2,391 on the s&p. again, who would have thought six months ago? today pope francis travels to fatima, portugal to commemorate 100th anniversary to one of the most-well known miracles, a vision of the virgin mary, pope francis plans to observe anniversary for canonizing the two young. they stayed there during the first world tour in 1964, it is up for rent and you will not believe how much they're charging, i was astonished by this, not for how much but how little it is. i'm giving it away. it's a tease. i can't give it away.
nicole: i'm nicole petallides with your fox business brief. dow jones industrial average down 18 points, s&p 500 down fractionally and we also see that the nasdaq, though, has an up arrow, the stocks are mixed for the week. the nasdaq is the winner for the week. apple hit an all-time high today. mcdonalds also working closely with franchisees ready to fork over some doug to revamp franchisees and make it better for the company. gold is up nearly $5, you could see the gold miners. new gold to the upside and watching also spotify, spotify saying that they are going to have direct listing with nyse, eliminate ban of brokers to
wright. >> i have an idea for you to try to reestablish and help the president out. i think we should defer tax cuts, defer tax cuts and instead institute at least two more congressional investigations into russia. [laughter] stuart: you practiced. that's good. >> appoint a special prosecutor who will examine in washington anybody that's met or talked to a russian -- [laughter] stuart: this is really classic stuff. you knew it was coming. >> that would make it seven special prosecutors. stuart: you have the answer for the establishment media which is full of content. i think that's a disgrace and your answer is? it's just unfortunate but doesn't seem to be hurting. i saw wilbur ross this morning,
this trade agreement with china, that's usually a four-year discussion. to get something like that moving, the things that are happening, you know, hitting that surplus, billions and billions of dollars. stuart: more deflection. am i right, am i right that the establishment media is going after the president in very personal terms, in extreme terms and i don't think that's very healthy and i don't think the media is doing its job. >> well, there's very little you can do about it except ignore it or work through it. his level of accomplishment is what sets him aside right now and it's very unfortunate. i agree with you. and it's everywhere. stuart: it's not bad, it's not bad. [laughter] stuart: i want to talk to you about pancreatic cancer, a cause
that you're closely associated with. i want you to tell us if there's any progress in the fight against pancreatic cancer? >> yes, we have made progress. people that have been involved in the medical industry for many years, i've had discussions with our newly appointed health and human services price. i'm scheduled to meet with the vice president the following week on 24 to talk about -- we have come up with an idea, it's being supported at the health and human services to create an advance research project agency. this is something that exists in the department of defense it's called dapra and the department of defense 3 billion-dollar a year and it's where they -- it's where they take so seriously the development of new technologies and actually has -- it's where -- the first weather satellite came out of darpra.
stuart: you want to apply their expertise to pancreatic cancer? >> it's self-sufficient very well funded attack on a particular scientific issue and it's president bush, created in 1958 for the department of defense and in 2007, president bush did it for energy and it operates independently. they have deadlines on things that have to get done very fast and get accomplishments, they are contracts and not grants, you can be fired or pushed off if you don't make your numbers. stuart: you suggested this? >> the response is positive about let's see how we put this together. i've got some foundations interested in doing it and we create it. it's sort of inside the health and human services but it is autonomous and it has -- it has short-terms on it. it's not ten-year projects and have to turn this over in a couple of three years and you
bring in the very best, it's large scale, 20-30 million-dollar operation and it's quite frankly -- i wish that the nci had been doing that but they haven't. this is the finest use of money that they could possibly put into pancreatic, that's what we are working on. stuart: you're a good man. this is a good cause and we all know it and i hope you're successful. thank you very much for being on the shown deflecting my criticism of your former industry. i promise you -- >> that's unfortunate. [laughter] stuart: bob wright, you're all right. we will see you soon. >> i just want to say one last thing that i know you talk a lot about health care, one thing that i wanted to say, we have 291 million americans that are on single payer right now, you have 55 million on medicare and 77 million on medicaid and
159 million on employer based and those are single payer because none of those people have the right -- stuart: the difference between single payer that you're talking about as in britain or canada -- >> i am. i'm just saying that we already -- we already are in this game up to our neck and we have 20 million people that are on the exchange and if fox stopped offering medical here, then liz would be on the exchange. stuart: very good. >> and you and i would not. we would be on medicare. [laughter] >> stuart: i have extra 90 seconds. [laughter] stuart: i say it again, you're all right. >> thank you very much. stuart: london apartment where george harrison once lived can be yours. what's the rent? ashley: 1400 pounds a week which by today's exchange rate about $1,800 a week, 7200 a month
stuart: that's a bargain, a three-bedroom apartment. if you had that same apartment in upper east side of new york that's 25,000 a month. ashley: probably. stuart: i do not get that. that's out of whack. that's just me. back to positive signs on the economy. housing market, millennials buying homes instead of renting, there's a switch. we are talking about a whole new generation of homeowners, that's very good news. more varney after this.
stuart: now hear this, a generation of renters is becoming a generation of home buyers, tracy carrasco has the story which fascinating me, go. >> according to some data from the census bureau they are saying that 854,000 new owner households in the first three months of the year, that's more than doubled, 365,000 new renter households. stuart: whoa. look at that.
i've got it on the screen. first quarter of this year. 854,000 first-time newly formed high schools -- new homeowners. stuart: 365 were renters. >> builders are making it more appealing for millennials to buying homes. they are designing homes with millennials in mind, they have the features they are looking for, if a new home wants to rent out another room, they've got separate bedrooms, bathrooms to help supplement the stuart: i thought the last few years it was renting, renting made sense apparently but now it's not? >> no, millennials are making more money, so they want to invest. home is a good place to invest. stuart: ladies and gentlemen, i bring you good news. that's a positive. liz: yeah. ashley: about time. stuart: stop living in your mom and dad's basement and buy a
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stuart: it is mother's day on sunday. may the 14th. i thought we would close out the show with a mom story of my own. now my mom lived to be 9years of age. she was born in 1907 in england of course. one day, 10 or 12 years ago, i asked her what is your earliest memory? she came back very quickly and said, the sinking of the titanic. what? the sinking of the titanic? she said yes. i was about four years, eight or nine months old, when it happened. she remembers looking out of the window and seeing news boys, extra, extra, read all about it. the news boy was mobbed by people. women were wearing long dresses. they all wanted a copy of the newspaper about the sinking of the titanic. liz: what a memory. stuart: huge news in britain at
the time. >> of course. stuart: that is my mom's earlier memory. liz: nothing about the birth of you? stuart: that was misdemeanorrable but -- ashley: didn't forget that. stuart: didn't bring it up very often. fortunately out of time. ashley, liz. neil, it is yours. wait for it. neil: so your mom lived to 98? stuart: almost 98. neil: and you're in your 60s? stuart: me? neil: you. stuart: 69 in couple months. we have at least another 30 years. [laughter]. just doing the math in my head. >> lucky you, neil. neil: all right. happy mother's day. it is a beautiful story. we're all looking at this. footnote on mother's day versus father's day. we spend five times more on our moms than we do our dads. the theory goes something like this, most believe dads get off easily and mhers do all the